Titas Gas to convert Tk 282.74cr deposit into preference shares for govt

Titas Gas has decided to convert a deposit of over Tk 282.74 crore into non-cumulative preference shares in favour of the government. 

According to a disclosure on the Dhaka Stock Exchange (DSE) website today, the company's board approved the conversion of Tk 282.74 crore into 28.27 crore non-cumulative preference shares, each with a face value and issue price of Tk 10. 

The shares will be issued in favour of the Finance Division under the Ministry of Finance.

The move comes at a time when Titas Gas continues to suffer losses. The company reported a loss of Tk 236.07 crore in the January–March quarter of 2025, widening from a Tk 212.04 crore loss in the same quarter of the previous year.

As of May 31, 2025, the government held a 75 percent stake in the company, while institutional investors owned 14.89 percent. 

Foreign investors held 0.03 percent and the general public 10.08 percent, according to DSE data.